Palo Alto Networks, Inc. (NASDAQ:PANW) Stake Boosted by Canandaigua National Bank & Trust Co.

Canandaigua National Bank & Trust Co. grew its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 19.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,054 shares of the network technology company’s stock after acquiring an additional 335 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Palo Alto Networks were worth $702,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Sunbelt Securities Inc. grew its holdings in shares of Palo Alto Networks by 91.0% during the 1st quarter. Sunbelt Securities Inc. now owns 1,683 shares of the network technology company’s stock valued at $478,000 after acquiring an additional 802 shares in the last quarter. Jennison Associates LLC lifted its stake in shares of Palo Alto Networks by 7.6% in the 1st quarter. Jennison Associates LLC now owns 2,814,881 shares of the network technology company’s stock valued at $799,792,000 after purchasing an additional 198,078 shares during the last quarter. Brookstone Capital Management lifted its stake in shares of Palo Alto Networks by 48.4% in the 1st quarter. Brookstone Capital Management now owns 26,404 shares of the network technology company’s stock valued at $7,502,000 after purchasing an additional 8,611 shares during the last quarter. Wealthspire Advisors LLC lifted its position in Palo Alto Networks by 1.7% during the 1st quarter. Wealthspire Advisors LLC now owns 4,377 shares of the network technology company’s stock worth $1,244,000 after acquiring an additional 75 shares during the last quarter. Finally, Connectus Wealth LLC lifted its position in Palo Alto Networks by 22.8% during the 4th quarter. Connectus Wealth LLC now owns 43,813 shares of the network technology company’s stock worth $12,920,000 after acquiring an additional 8,132 shares during the last quarter. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Palo Alto Networks

In other news, CAO Josh D. Paul sold 200 shares of Palo Alto Networks stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $323.41, for a total transaction of $64,682.00. Following the transaction, the chief accounting officer now directly owns 24,782 shares of the company’s stock, valued at $8,014,746.62. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Nir Zuk sold 36,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $332.50, for a total transaction of $11,970,000.00. Following the sale, the executive vice president now directly owns 1,115,567 shares in the company, valued at $370,926,027.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Josh D. Paul sold 200 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $323.41, for a total transaction of $64,682.00. Following the sale, the chief accounting officer now owns 24,782 shares in the company, valued at approximately $8,014,746.62. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 395,732 shares of company stock valued at $130,785,557. 3.30% of the stock is currently owned by insiders.

Palo Alto Networks Stock Performance

Shares of NASDAQ PANW traded up $6.42 during mid-day trading on Friday, hitting $342.36. 2,037,059 shares of the stock were exchanged, compared to its average volume of 4,121,362. The company has a market cap of $110.86 billion, a P/E ratio of 49.76, a PEG ratio of 4.87 and a beta of 1.13. The stock’s fifty day simple moving average is $337.94 and its two-hundred day simple moving average is $316.89. Palo Alto Networks, Inc. has a twelve month low of $233.81 and a twelve month high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.10. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The business had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same quarter last year, the business posted $0.80 earnings per share. Palo Alto Networks’s revenue for the quarter was up 12.1% compared to the same quarter last year. As a group, equities research analysts predict that Palo Alto Networks, Inc. will post 3.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PANW has been the subject of a number of research analyst reports. Barclays boosted their target price on shares of Palo Alto Networks from $350.00 to $370.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Rosenblatt Securities boosted their target price on shares of Palo Alto Networks from $300.00 to $345.00 and gave the stock a “neutral” rating in a research report on Monday, August 19th. Wells Fargo & Company boosted their target price on shares of Palo Alto Networks from $385.00 to $416.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Royal Bank of Canada boosted their price objective on shares of Palo Alto Networks from $390.00 to $410.00 and gave the stock an “outperform” rating in a report on Tuesday, August 20th. Finally, Citigroup boosted their price objective on shares of Palo Alto Networks from $385.00 to $395.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Twelve equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $369.26.

Palo Alto Networks Profile

Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; and Panorama, a security management solution for the global control of network security platform as a virtual or a physical appliance. It also provides subscription services covering the areas of threat prevention, malware and persistent threat, URL filtering, laptop and mobile device protection, DNS security, Internet of Things security, SaaS security API, and SaaS security inline, as well as threat intelligence, and data loss prevention.